ostium labs filled a $26.4m gold position onchain with 0.015% price impact. that beats COMEX. a $16.1m USD/JPY long cost $4,700 in total fees, 0.029%. interactive brokers charges 5-7x more for the same notional. 96% of their volume is TradFi assets, not crypto. $50m annualized revenue on a $250m pre-token valuation. 150x leverage on gold vs binance's 10x. coinbase ventures led at that number. the FX and commodity perp market is fragmenting fast between hyperliquid, binance, and ostium. ostium's RFQ system o ...